5 Things You Need To Know About Obamacare
- INSURERS CAN NO LONGER DENY YOU COVERAGE DUE TO A PRE-EXISTING CONDITION: Beginning on January 1, 2014, insurance companies cannot turn you down for major medical coverage due to a pre-existing condition like cancer, diabetes or hypertension.
- YOU WILL PAY A NEW TAX IF YOU DO NOT HAVE "MINIMUM ESSENTIAL COVERAGE": People with coverage through a government program such as Medicare or Medicaid already have the required coverage, as do most people covered under an employer's plan. However, those Americans that are uninsured must purchase insurance meeting the government's "Minimum Essential Coverage" requirements, or pay a tax for their non-compliance.
- SOME AMERICANS WILL BE UNABLE TO KEEP THEIR CURRENT PLAN: The Affordable Care Act requires health insurance plans to offer certain benefits and meet other legal and actuarial requirements. Because of that, many insurers are cancelling people's current coverage as they will be unable to offer those plans in 2014. President Obama tried to convince regulators and insurers to extend these plans through 2014, but many states and insurance companies have said "no" - which means those affected must find new coverage for 2014 quickly.
- CERTAIN AMERICANS WILL QUALIFY FOR SUBSIDIES: To make the cost of major medical insurance more affordable for low and middle income Americans, the government is offering sliding-scale subsidies that can help decrease monthly health insurance premiums. These subsidies can only be applied to insurance policies sold through the new government insurance Exchanges. The amount of the subsidy you receive is tied to your household income and household size, and those most in need will receive the most help.
- EXPECT THE UNEXPECTED: The implementation of the Affordable Care Act has not gone smoothly. From website glitches to cancelled policies, there have been plenty of unexpected surprises. A number of key provisions of the law have even been delayed, such as the Employer Mandate and the Small Business Health Exchange (SHOP). Will there be more problems, or more delays, down the road? Only time will tell.
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Welcome to the official iCan website, where our mission is to provide you with a wide variety of affordable health coverage options. We offer major medical plans that are fully compliant with the Affordable Care Act, supplemental insurance plans, non-insured benefit programs to help you lead a healthier life, and much more. Our goal is to help you find a plan that fits your budget. Our Licensed Agents will help you make a smart choice about your insurance coverage, and then help you get the most out of your benefits once you’ve made a selection.
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